BS 8453:2011 Compliance framework for regulated financial services firms. Specification

BS 8453:2011

Compliance framework for regulated financial services firms. Specification

Status : Current, Under review   Published : February 2011



What is this standard about?

Compliance failures pose a serious risk to both financial services firms and their investors. This standard sets out a framework for managing regulatory compliance. Financial service departments which meet its requirements can operate with confidence in the knowledge that they’re using a set of best-practice systems and controls.

Who is this standard for?

  • Compliance officers and managers
  • Heads of regulation and compliance
  • Anti-money-laundering reporting officers
  • Senior management
  • Government officials dealing with compliance

Why should you use this standard?

It specifies established good practice and processes for operating an effective compliance programme to help firms meet their regulatory obligations.

It allows financial service firms to:

  • Avoid misconduct and deter criminal liabilities
  • Benchmark against a recognized framework
  • Identify opportunities to improve professionalism
  • Provide recognition of compliance policies and procedures
  • Demonstrate a commitment to compliance culture

The standard offers practical advice and guidelines to help firms foster a compliance culture from the top down; ensuring management and staff contribute to the implementation of a reliable, robust compliance function.

It looks at undertaking risk assessments, implementing the right policies and procedures to monitor compliance, as well as internal and external reporting.

By complying with this framework, users will meet regulatory obligations more easily and be able to enforce a proactive approach to training and compliance in general. The standard applies across the whole regulated sector (wholesale, retail, investment, etc).


Standard NumberBS 8453:2011
TitleCompliance framework for regulated financial services firms. Specification
StatusCurrent, Under review
Publication Date28 February 2011
Confirm Date01 June 2016
Normative References(Required to achieve compliance to this standard)No other standards are normatively referenced
Informative References(Provided for Information)BS 10012:2017, BIP 0012, BS ISO 10002, BS 18477
Draft Superseded By10/30210204 DC
DescriptorsReports, Banks, Management, Financial institutions, Investment, Personnel, Enterprises, Government, Documents, Conformity, Finance, Training
ISBN978 0 580 69207 9
File Size2.98 MB

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